Marico

Marico Limited is an Indian multinational consumer goods company providing consumer products
and services in the areas of health, beauty and wellness. With its headquarters in Mumbai, Marico is
present in over 25 countries across Asia and Africa. It owns brands in categories of hair care, skin
care, edible oils, health foods, male grooming, and fabric care such as Parachute, Saffola, Hair &
Care, Parachute Advanced, Nihar Naturals, and Mediker.
Their international product portfolio includes brands such as Parachute, Parachute Advansed,
HairCode, Fiancée, Caivil, Hercules, Black Chic, Code 10, Ingwe, X-Men, Mediker SafeLife, Thuan
Phat and Isoplus.
As of 2019–2020, the company generated a turnover of ₹7,315 crores. Marico has 7 factories in India
located at Puducherry, Perundurai, Jalgaon, Guwahati, Baddi,and Sanand and 2 in Gazipur, Dhaka.

Key Stats and details:

Founded: 1990, by Harsh Mariawala
Headquarters: Santacruz, Mumbai
Products: Personal care, Skin care, Convenience food
Turnover (21-22): Rs. 9,610 crore
EBITDA (21-22): Rs. 1,689 crore
Profit After Tax (21-22): Rs. 1,230 crore
No. of employees: 1657

International markets: Bangladesh, Egypt, Vietnam, Myanmar, Middle East, and South Africa
Domestic locations:
– Corporate Office: Mumbai
– R&D Center: Mumbai
– Manufacturing Units: Puducherry, Perundurai, Jalgaon, Baddi, Sanand and Guwahati (2 plants),
– Regional Offices: Delhi, Mumbai, Kolkata and Hyderabad
– Redistribution Centers: Kolkata, Mumbai, Hyderabad, Sonipat

Tagline:
"Marico - make a difference". The firm has always taken steps to minimize negative environmental
impacts while focusing on the common benefit of the people

Values:
  Boundarylessness: Seeking support & influencing others beyond the function & organisation
to achieve a better outcome/decision without diluting one's accountability.
 Opportunity seeking: Identifying early opportunity signals in the environment to generate
growth options.
 Innovation: Experimentation and calculated risk taking to increase success probability of
radical/pioneering ideas to get quantum results.
 Transparency & Openness: Keeping consumer as the focus and a partner in creating and
delivering solutions.
 Consumer Centric: Preference for quick thoughtful action as opposed to delayed action
through analysis.
 Bias for Action: Continuous improvement of performance standards and capability building
for sustained long term success.
 Excellence: Sensitivity and adaptability to cultural diversity and learning from different
cultures.
 Global Outlook: Sensitivity and adaptability to cultural diversity and learning from different
cultures.

Vision and Mission:

Every member of the Marico family has a vision of long-term growth and prosperity while also
attempting to have a positive impact on the entire business ecosystem. They collaborate to improve
the lives of all of their stakeholders, including consumers, investors, members, and society at large.
The corporation has always taken steps to minimize negative environmental impacts while focusing
on the common benefit of the people. It inspires people to contribute to society in every way they can.
Marico claims that businesses and social organizations can improve their economic and social values
through creativity and innovation. Instead, it is one of the company's core principles.

Marico Focus on 4 Ds:

With socially-inclusive and profitable growth at the core and targeted sustainable value creation
initiatives, Marico envisages itself as an organization being driven by their 4Ds framework, which act
as their pillars of progress, enabling double-digit growth.
Diversification Marico continues to invest in new engines of growth in the domestic and international
businesses to create a future-ready portfolio and drive accelerated revenue growth. This will also
enable them to broaden their presence as well as premiumise their play in the respective geographies.
Distribution Expansion in this field will enable consumers across regions access their products, thus
becoming a key lever for driving next leg of growth. Marico wishes to continue their efforts towards
go-to-market transformation in urban and rural.
Digital Marico finds it important to raise the digital quotient across value chain to make the
organisation future-forward. By innovating, incubating, and scaling, it is looking forward to fronting a
digital culture throughout the organisation and aligning their digital strategy with their business
priorities to ensure that it wins amongst evolving consumer and marketplaces.

Diversity Diverse talent and socially inclusive culture continues to be a strong business driver for
Marico. It is accelerating diversity throughout the organisation, across gender, ability and thought. It
believes in a positive, enabling and inclusive culture, amplifying opportunities for different groups,
and in turn, becoming a competitive people advantage for Marico.

Leadership:
Chairman of the Board: Harsh Mariwala
MD & CEO: Saugata Gupta
CFO: Pawan Agrawal
CMO: Koshy George
CTO: Dr. Shilpa Vora
COO: Sanjay Mishra
CIO: Vrijesh Nagathan

Product Portfolio of Marico India:

Male grooming – Set Wet, Beardo, Parachute Advansed Men Aftershower Hair Cream, Jataa
Hair Care – Parachute, Parachute Advansed, Nihar Naturals, Nihar Naturals Uttam, Hair & Care
Fruit Oils, Mediker, Livon
Edible Oils – Saffola
Skin Care – Parachute Advansed Body Lotion, Just Herbs
Fabric Care – Revive
Healthy Foods – Saffola Masala Oats & Saffola FITTIFY

Make a Difference Initiatives:

As a responsible corporate, Marico is committed to the global agenda with a specific and focused
framework for achieving them within the parameters of our business operations. It has dones o in the
following ways:
Farmer First Program
Majority of Marico's raw materials are agricultural produce. Their "Farmer First" programme was
launched a few years ago, with the aim of solving immediate issues and empowering farmers for the
future. The initiative has helped the farmers to strengthen agricultural productivity and multiply yields
on a sustainable basis.
Coconut: Boosting Tradition with Technology
Marico constantly engages with coconut farmers and train them on agricultural management. Marico
is proud to have conducted over 150 sessions, training more than 4500 farmers, and enrolling more
than 500 farmers for a scientific implementation of practices.
Safflower productivity development
As a responsible stakeholder in the safflower value chain, Marico stepped in to help, with its
Safflower Extension Programme. The plan was multi-faceted, aimed at improving various aspects of
the value chain.
Efficient Manufacturing
Green Manufacturing is the vision that is at the heart of their environmental stewardship - a holistic
approach that encompasses energy efficiency, reduced water consumption, waste management,
renewable energy and greener manufacturing processes and technologies. Every member of Marico is
imbued with the spirit of sustainability and the genuine desire to protect and preserve nature.
Care for Communities
At Marico, the idea of social responsibility is vied from the perspective of moral and ethical duty
rather than an obligation. They explore their commitment to 'Make a difference' across the spectrum,
from initiatives that enhance lives in their immediate neighbourhoods, to ambitious programs that
propel business growth and impact the economy.
Community Support Programs
Marico has created a CSR culture which empowers its members to actively give back to society in
simple yet impactful ways. Members at different locations of Marico come together to support big and
small causes.

Marico Bangladesh
Dhaka Ahsania Mission Children Learning Center project
As part of their continued efforts to create a positive lasting impact on the society, Marico Bangladesh
formed a partnership with Dhaka Ahsania Mission (DAM) to bring the light of education to
underprivileged communities. With 75 centres offering education, life and social skills, the Center has
enrolled 3113 children, mainstreamed 863 children in formal schools and also created awareness of
child rights and the social evils of child marriage and dowry.
Marico South Africa
Just for Baby - Creating a culture of children's rights
Their brand Just for Baby launched an initiative in partnership with Childline South Africa, an
effective non-profit organization that works to protect children from violence and create a culture of
children's rights in South Africa.
Hercules Smart School Campaign
Marico South Africa launched the HERCULES Smart School Campaign in 2015. HERCULES
reached out to 50 schools in 2 townships within major metropolitan areas. The campaign was a
success resulting in HERCULES interacting with over 32,000 learners (plus the teachers and parents)
over the set period
Marico Innovation Foundation
Owing to his entrepreneurial drive and passion for innovation, founder Harsh Mariwala incepted
Marico Innovation Foundation (MIF) as a not- for- profit organization in 2003. Under the guidance of
an eminent Governing Council, the organization aims to nurture innovation in India across the
business and social sectors alike.
Acquisitions and Purchase of Controlling stakes:

HW Wellness:
Marico bought a 54% controlling stake in HW Wellness, the parent company of True Elements in
March 2022. Co-founded by Puru Gupta and Sreejith Moolayil, True Elements is a digital-first brand
of healthy breakfast & snacks. It is India's only food brand to be certified as both 'Clean Label' and
'100% wholegrain' by leading US-based non-profit organisations. It offers a range of over 70 products
spanning across categories of western breakfast, Indian breakfast, snacks, amongst others.

Apcos Naturals:
Marico bought a controlling stake 0f 60% in Apcos Naturals, the owner of Ayurvedic beauty brand
Just Herbs' in July 2021. Just Herbs offers Ayurveda-based skin and hair care offerings, made from
certified organic ingredients. The brand garners majority of business through its own direct to
consumers (D2C) website. The digital presence Just Herbs has built in a short span of time was
impressive enough for Marico to consider buying it out as part of its expansion into digital territory.

Zed Lifestyle:
Marico already had a significant stake of 45% in Zed Lifestyles, the parent company of Beardo since
2017, when it made the strategic investment, seeing scope for growth and having an intention to
acquire when the brand was mature enough. In 2020, it bought out the stakes of all the remaining
shareholders to obtain a 100% holding on the company and the Beardo brand. This enabled Marico
into a newly established segment in which Beardo had the first mover advantage, that of Male
grooming and styling in the Beard and hair category.

International Brand Acquisitions:

Marico acquired a lot of foreign brands during its expansion internationally. Since a lot of these
brands were well integrated into the ecosystem in these countries, merging with them was considered
more beneficial as compared to competing against them. Some of these acquisitions were:
HairCode & Fiancée in Egypt
Caivil, Hercules, Black Chic, Code 10, Ingwe, X-Men, Just For Baby and Isoplus, a hairstyling brand
in South Africa
Thuan Phat in Malaysia
These acquisitions occurred mainly between 2007-17 when it was attempting to expand abroad. Since
a lot of these were tailored specifically to their countries of origin, Marico also made the decision not
to bring them back to India. Although these products never made it to India, most of Parachute’s
product line are major sellers even in the international markets.
History and Major milestones:
1971: Harsh Mariawala joins Bombay Oil Industries, his family business
1988: Parachute makes its entry into the market
1990: Marico splits away from Bombay Oil with the brands Parachute, Saffola and Sweekar
1991: Hair&Care launched as non-sticky hair oil. Sweekar launched all over India
1992: First overseas office set up in Dubai
1994: Revive making starching cottons easier through use of cold water
1995: Acquisition of SIL jams and sauces from Kanmoor Foods Limited
1996: Indian Stock exchanges list Marico as one of their offerings
1999: First overseas manufacturing facility in Bangladesh
Acquisition of Mediker
2002: Formation of top-of-the-line dermatology clinics as kaya skin clinic
2006: Nihar launched as part of its hair portfolio
2007: Acquired Fiancee & Hair Code in Egypt and Caivil Black Chic & Hercules in South Africa
2008: Marico sells SIL to Good Food Brands due to incompatibility of jam products with core
identity
2010: Launch of Saffola masala oats
2011: Parachute enters skincare category
2012: Acquisition of SetWet, Livon and Zatak from Reckitt Benckiser
2013: kaya dermatology clinics demerges and establishes itself as a separate entity
2014: Marico sells off Sweekar to Cargill India due to its focus on Saffola
2017: Acquisition of Isoplus, South Africa’s leading hair styling business, enters nuraceuticals
category through Saffola Nutri-shake
Makes strategic investment in Zed Lifestyle(Beardo)
2019: Marico extends food range through FITTIFY gourmet and Coco Soul as health based foods
2020: Acquires Beardo by purchasing remaining non-owned stake
Ventures into fruit and veggie hygiene through Veggie clean
2021: Launch of Saffola Oodles to mark entry into noodles category
2022: Acquires majority stakes in Apcos Naturals (Just Herbs) and HW Wellness (True Elements)
References:
https://marico.com/india/
https://marico.com/investorspdf/Marico_Annual_Report_FY22.pdf
https://www.goodreturns.in/company/marico/history.html
https://startuptalky.com/marico-success-story/#Marico_Marico-Products
https://tracxn.com/d/acquisitions/acquisitionsbyMarico
https://marico.com/make-a-difference/introduction

Recent News:
https://economictimes.indiatimes.com/industry/cons-products/fmcg/maricos-d2c-brands-now-500-cr-
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https://www.livemint.com/market/mark-to-market/marico-margin-in-better-shape-than-its-volumes-
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https://www.business-standard.com/article/news-cm/marico-buys-54-stake-in-true-elements-
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https://www.financialexpress.com/industry/marico-plans-to-strengthen-focus-on-health-food-
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https://www.livemint.com/companies/news/marico-expands-saffola-brand-marks-entry-into-spreads-
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https://cio.economictimes.indiatimes.com/news/strategy-and-management/how-automation-helped-
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